Cash withdrawn by the owner of a proprietorship for personal expenses, should be treated as an expense of the business.

Name: Cash withdrawn by the owner of a proprietorship for personal expenses, should be treated as an expense of the business.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cash withdrawn by the owner of a proprietorship for personal expenses is not an expense of the business. It is considered a withdrawal or a reduction of the owner's equity in the business.

Cash Withdrawn by the Owner of a Proprietorship for Personal